|
In the forth-quarter GDP grew 2.2 %
GDP, U.S. Economy
The U.S. economy grew at a solid pace during the October-through-December period, helped by more robust consumer spending and growth in investments.
In the forth-quarter Gross domestic product has climbed by 2.2 % to $20,865 billions, an increase from $20,658 billions in the third-quarter on the seasonally adjusted basis, driven by higher investments, up 3.7 %, reported by the Commerce Department. Consumer spending and investments made major positive contributions to growth in the forth-quarter.
Broad-based economic growth at a solid pace during the forth-quarter, raises hopes that, the U.S. economy is on self-sustaining path.
The newly revised growth numbers reinforce the view that the economy remains in a very strong state. Salaries and Worker wages grew by 1.19 % quarterly.
U.S. Gross National Product grew by 3.0 % over the past 12 months, . |
In the forth-quarter real consumer spending was estimated to have increased at a 2.5 % annualized clip, spending has slowed down but it was still major contributor to the U.S. growth, adding 1.7 of a percentage point to GDP growth in the forth-quarter, reported by the Commerce Department.
With estimated annual rate of $14,188 billions, seasonally adjusted in the third-quarter, consumer spending accounts for 68.68 % of economic activity.
Spending on U.S. made Goods increased by 2.1 %, where consumption of Durable Goods grew by 3.6 %, led by growing demand for new cars.
The bright spot of consumer spending was the increasing demand for nondurable goods, by 2.4 %, as other nondurable goods grew the most, up 0.76 %.
Sevice sector grew more than in previous quarter and faster than gross national product, spending on service increased by 2.6 %, led by 2.38 % increase in transportation. Consumer spending for services accounts for 69.76% of total speding and 47.45% of total GDP.
Final sales for domestic product, considered a measure of domestic demand because it excludes inventories and trade, jumped at a 2.1 % rate in the forth-quarter after rising 1.0 % in the third-quarter.
The second estimate of GDP incorporates more data from the private sector and provides a more accurate measure of growth than the initial report. The revision is also the first to include data on business earnings.
U.S. Gross National Product grew by 2.9 % for the year 2018, faster than 2.2 % in the year 2017.
• More on U.S. Real Gross Domestic Product
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Contributions
to Percent Change in Real GDP |
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1.66% |
0.66% |
-0.07% |
0.10% |
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Government Consumption |
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Government spending fell by -0.40 %, a 1.10 % increase in federal outlays was offset by a -1.30 % decline in local and state spending. Many states have slashed spending to close multi-billion-dollar budget gaps. Government consumption of $3,569 billions at annual rate, accounts for 17.11 % of total U.S. Economy.
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International Trade |
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Diversified |
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Investments grew by 3.70 % to $3,766 billions, but slow down compare to the July-through-September period on the seasonally adjusted basis.
Businesses, for their part, ratcheted up investments by 5.40 %. This was driven mainly by a rise in tech outlays, purchases of software and equipment grew 6.60 % and accelerated.
Stronger inventory buildup from October-through-December, added 0.14 percentage point to growth.
Economists expect companies to cut back on inventories in the January-through-March quarter. As a result, GDP growth is expected to slow.
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U.S. growth would have been even faster if imports, which subtract from GDP, hadn't increased sharply: Imports rose 2.00 % from 9.30 % in the forth-quarter.
• Relation of U.S. GDP, U.S. GNP
• Corporate Profits by Industry
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Quarters seasonally adjusted
(At annual rates Q / Q, in %) |
IV Quarter
2018
rev. |
III Quarter
2018
adv. |
II Quarter
2018
final |
I Quarter
2018
rev. |
IV Quarter
2017
adv. |
III Quarter
2017
final |
| Gross domestic product (GDP) |
|
2.2 % |
3.4 % |
4.2 % |
2 % |
2.9 % |
3.2 % |
|
Personal consumption expenditures |
|
2.5 % |
3.5 % |
3.8 % |
0.9 % |
4 % |
2.2 % |
| Goods |
|
2.1 % |
4.6 % |
4 % |
0.5 % |
4.8 % |
2.3 % |
| Durable goods |
|
3.6 % |
3.7 % |
8.6 % |
-2.1 % |
13.7 % |
8.6 % |
| Nondurable goods |
|
2.4 % |
3.2 % |
3 % |
1.5 % |
2.3 % |
1.1 % |
| Services
|
|
2.6 % |
4.3 % |
5.5 % |
-0.4 % |
7.8 % |
4.5 % |
| |
|
|
|
|
|
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|
Gross private domestic investment |
|
3.7 % |
15.2 % |
-0.5 % |
7.5 % |
4.7 % |
7.3 % |
| Fixed investment |
|
3.1 % |
1.1 % |
6.4 % |
7.6 % |
8.2 % |
2.4 % |
| Nonresidential |
|
5.4 % |
2.5 % |
8.7 % |
10.4 % |
6.8 % |
4.7 % |
| Structures |
|
-3.9 % |
-3.4 % |
14.5 % |
16.2 % |
6.3 % |
-7 % |
| Equipment &
software |
|
6.6 % |
3.4 % |
4.6 % |
5.8 % |
11.6 % |
10.8 % |
| Residential |
|
-4.7 % |
-3.6 % |
-1.3 % |
-1.1 % |
12.8 % |
-4.7 % |
| Change in private
inventories |
|
- % |
- % |
- % |
- % |
- % |
- % |
| |
|
|
|
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|
Net exports of goods and services |
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|
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|
|
| Exports
|
|
1.8 % |
-4.9 % |
9.3 % |
3.6 % |
7 % |
2.1 % |
| Goods |
|
1.2 % |
-8.4 % |
13.5 % |
3.4 % |
11.6 % |
1.8 % |
| Services |
|
2.7 % |
2.4 % |
1.5 % |
4 % |
-1.4 % |
2.5 % |
| Imports
|
|
2 % |
9.3 % |
-0.6 % |
3.2 % |
14.1 % |
-0.7 % |
| Goods |
|
0.5 % |
10.5 % |
-0.4 % |
2.6 % |
17.3 % |
-0.2 % |
| Services |
|
8.6 % |
4.3 % |
-1.4 % |
5.9 % |
1.1 % |
-2.6 % |
| |
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| Govt. consumption exp.
& gross investment |
|
-0.4 % |
2.6 % |
2.5 % |
1.3 % |
3 % |
0.7 % |
| Federal |
|
1.1 % |
3.5 % |
3.7 % |
1.7 % |
3.2 % |
1.3 % |
| National defense |
|
6.4 % |
4.9 % |
5.9 % |
1.8 % |
5.5 % |
2.4 % |
| Nondefense |
|
-6.1 % |
1.6 % |
0.5 % |
1.6 % |
-0.1 % |
-0.2 % |
| State & local |
|
-1.3 % |
2 % |
1.8 % |
1 % |
2.9 % |
0.2 % |
| |
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| Addenda: |
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| Final sales of domestic product |
|
2.1 % |
1 % |
5.4 % |
2 % |
3.4 % |
2.4 % |
| Gross domestic purchases |
|
2.2 % |
5.3 % |
2.8 % |
2 % |
4 % |
2.7 % |
| Final sales to domestic
purchasers |
|
2.1 % |
2.9 % |
4 % |
2 % |
4.5 % |
1.9 % |
| Gross national product
(GNP) |
|
2.1 % |
3.1 % |
4 % |
1.9 % |
2.7 % |
3.7 % |
| Disposable personal income |
|
4.3 % |
2.4 % |
2.5 % |
3.6 % |
1.1 % |
0.5 % |
| |
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| Current-dollar measures: |
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| GDP |
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3.5 % |
4.9 % |
7.6 % |
4.2 % |
5.3 % |
5.3 % |
| Final sales of domestic product |
|
4 % |
3 % |
4.3 % |
2.1 % |
4.8 % |
2.2 % |
| Gross domestic purchases |
|
3.8 % |
5.3 % |
2.8 % |
2 % |
4 % |
2.7 % |
| Final sales to domestic purchasers |
|
4 % |
2.9 % |
4 % |
2 % |
4.5 % |
1.9 % |
| GNP |
|
5.8 % |
3.1 % |
4 % |
1.9 % |
2.7 % |
3.7 % |
| Disposable personal income |
|
- % |
2.4 % |
2.5 % |
3.6 % |
1.1 % |
0.5 % |
| |
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Quarters seasonally adjusted
(Quarterly Y / Y, in %) |
IV Quarter
2018
rev. |
III Quarter
2018
adv. |
II Quarter
2018
final |
I Quarter
2018
rev. |
IV Quarter
2017
adv. |
III Quarter
2017
final |
| Gross domestic product (GDP) |
|
3 % |
3 % |
2.9 % |
2.6 % |
2.6 % |
2.3 % |
|
Personal consumption expenditures |
|
2.6 % |
2.9 % |
2.6 % |
2.4 % |
2.8 % |
2.6 % |
| Goods |
|
2.7 % |
3.2 % |
2.6 % |
2.6 % |
3.1 % |
2.4 % |
| Durable goods |
|
3.4 % |
5.6 % |
6.6 % |
6.6 % |
7.3 % |
6.1 % |
| Nondurable goods |
|
2.4 % |
2.5 % |
2 % |
1.7 % |
2.1 % |
2.1 % |
| Services
|
|
2.9 % |
4 % |
3.9 % |
3.9 % |
4.5 % |
3.7 % |
| |
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Gross private domestic investment |
|
6.8 % |
6.1 % |
4.6 % |
6.2 % |
3.6 % |
4.6 % |
| Fixed investment |
|
4.6 % |
5.4 % |
5.8 % |
5.2 % |
5.4 % |
3.8 % |
| Nonresidential |
|
7 % |
6.8 % |
7.1 % |
6.7 % |
6.3 % |
4.6 % |
| Structures |
|
4.9 % |
6.3 % |
5.7 % |
3.1 % |
5 % |
2.9 % |
| Equipment &
software |
|
5.8 % |
6.6 % |
8.2 % |
9.5 % |
8.9 % |
6.3 % |
| Residential |
|
-3.3 % |
0.5 % |
1.3 % |
0.2 % |
2.6 % |
1.2 % |
| Change in private
inventories |
|
- % |
- % |
- % |
- % |
- % |
- % |
| |
|
|
|
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Net exports of goods and services |
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|
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| Exports
|
|
2.3 % |
3.5 % |
5.7 % |
4.3 % |
5 % |
2.2 % |
| Goods |
|
2.1 % |
4.4 % |
7.3 % |
5 % |
6.5 % |
2.7 % |
| Services |
|
2.7 % |
1.8 % |
2.7 % |
3 % |
2 % |
1.3 % |
| Imports
|
|
3.4 % |
5.8 % |
4.2 % |
5 % |
4.7 % |
3.1 % |
| Goods |
|
3.2 % |
6.5 % |
4.5 % |
5.2 % |
5.5 % |
3.6 % |
| Services |
|
4.2 % |
2.6 % |
2.6 % |
3.8 % |
0.8 % |
1.2 % |
| |
|
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|
|
|
| Govt. consumption exp.
& gross investment |
|
1.5 % |
2.2 % |
1.3 % |
0.7 % |
0.7 % |
-0.1 % |
| Federal |
|
2.7 % |
3.5 % |
2.3 % |
1.9 % |
1 % |
0.1 % |
| National defense |
|
5 % |
4.2 % |
2.2 % |
2.1 % |
2.3 % |
0.1 % |
| Nondefense |
|
-0.5 % |
2.4 % |
2.3 % |
1.7 % |
-0.9 % |
- % |
| State & local |
|
0.8 % |
1.5 % |
0.8 % |
- % |
0.5 % |
-0.1 % |
| |
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| Addenda: |
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| Final sales of domestic product |
|
2.6 % |
2.9 % |
3.1 % |
2.4 % |
2.9 % |
2.2 % |
| Gross domestic purchases |
|
3.1 % |
3.3 % |
2.7 % |
2.7 % |
2.6 % |
2.5 % |
| Final sales to domestic
purchasers |
|
2.6 % |
2.9 % |
3.1 % |
2.4 % |
2.9 % |
2.2 % |
| Gross national product
(GNP) |
|
2.9 % |
3 % |
3.1 % |
2.7 % |
2.5 % |
2.4 % |
| Disposable personal income |
|
3.3 % |
2.7 % |
2.9 % |
2.8 % |
1.8 % |
1 % |
| |
|
|
|
|
|
|
| Current-dollar measures: |
|
|
|
|
|
|
| GDP |
|
- % |
- % |
- % |
- % |
- % |
- % |
| Final sales of domestic product |
|
- % |
- % |
- % |
- % |
- % |
- % |
| Gross domestic purchases |
|
- % |
- % |
- % |
- % |
- % |
- % |
| Final sales to domestic purchasers |
|
- % |
- % |
- % |
- % |
- % |
- % |
| GNP |
|
- % |
- % |
- % |
- % |
- % |
- % |
| Disposable personal income |
|
- % |
- % |
- % |
- % |
- % |
- % |
| |
|
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U.S. Real Gross Domestic Product and Related Measures
GDP, U.S. Economy in Billions of U.S. dollars
Quarters seasonally adjusted
(At annual rates, in Billions of Dollars) |
IV Q. 2018
rev. |
III Q. 2018
adv. |
II Q. 2018
final |
I Q. 2018
rev. |
IV Q. 2017
adv. |
III Q. 2017
final |
| Gross domestic product
(GDP) |
|
20,865.1 |
20,658.2 |
18,511.6 |
20,041.0 |
19,754.1 |
19,500.6 |
|
Personal consumption expenditures |
|
14,188.4 |
14,050.5 |
12,842.0 |
13,679.6 |
13,654.3 |
13,429.1 |
| Goods |
|
4,386.6 |
4,371.3 |
4,537.6 |
4,267.7 |
4,401.8 |
4,301.4 |
| Durable
goods |
|
1,476.0 |
1,468.5 |
1,662.3 |
1,434.5 |
1,517.8 |
1,477.6 |
| Motor vehicles & parts |
|
517.2 |
506.2 |
518.6 |
498.5 |
519.8 |
497.8 |
| Furniture & household equipment |
|
332.0 |
334.2 |
381.1 |
324.1 |
346.8 |
339.1 |
| Other |
|
228.9 |
229.8 |
259.4 |
223.4 |
237.9 |
234.5 |
| |
|
|
|
|
|
|
|
| Nondurable goods |
|
2,910.6 |
2,902.8 |
2,886.7 |
2,833.2 |
2,884.0 |
2,823.8 |
| Food off-premises consumption |
|
1,009.9 |
1,007.4 |
965.2 |
988.3 |
955.3 |
939.1 |
| Clothing
& shoes |
|
398.5 |
398.0 |
393.4 |
385.5 |
405.5 |
399.8 |
| Gasoline,
fuel, oil & other energy goods |
|
348.1 |
352.0 |
446.6 |
340.6 |
327.5 |
296.0 |
| Other |
|
1,154.0 |
1,145.3 |
1,069.5 |
1,118.8 |
1,195.7 |
1,188.8 |
| |
|
|
|
|
|
|
|
| Services |
|
9,801.8 |
9,679.1 |
8,329.8 |
9,411.9 |
9,252.5 |
9,127.7 |
| Housing |
|
9,330.0 |
9,232.8 |
7,963.5 |
8,992.5 |
8,870.0 |
8,755.2 |
| Food services |
|
956.9 |
960.6 |
815.2 |
914.2 |
888.8 |
879.5 |
| Electricity & gas |
|
2,604.3 |
2,571.2 |
2,158.1 |
2,515.6 |
2,476.5 |
2,443.2 |
| Financial services |
|
1,147.2 |
1,128.8 |
852.2 |
1,102.5 |
1,085.2 |
1,060.2 |
| Transportation |
|
463.8 |
453.0 |
422.4 |
450.1 |
412.2 |
404.4 |
| Medical
care |
|
2,403.9 |
2,392.6 |
2,188.9 |
2,331.0 |
2,299.3 |
2,271.7 |
| Recreation |
|
562.7 |
557.7 |
493.4 |
549.0 |
522.6 |
520.8 |
| Other |
|
1,191.2 |
1,169.0 |
1,046.0 |
1,130.1 |
1,185.4 |
1,175.3 |
| |
|
|
|
|
|
|
|
|
Gross private domestic investment |
|
3,766.3 |
3,710.7 |
3,316.7 |
3,543.8 |
3,295.3 |
3,249.2 |
| Fixed investment |
|
3,658.8 |
3,618.0 |
3,322.3 |
3,507.4 |
3,279.2 |
3,207.3 |
| Nonresidential |
|
2,864.8 |
2,819.7 |
2,710.1 |
2,720.3 |
2,513.0 |
2,468.4 |
| Structures |
|
646.0 |
643.3 |
551.7 |
614.9 |
570.3 |
559.0 |
| Equipment & software |
|
1,260.7 |
1,243.0 |
1,264.9 |
1,212.6 |
1,142.5 |
1,111.0 |
| Information processing equipment & software |
|
409.8 |
415.8 |
502.9 |
401.9 |
334.7 |
327.7 |
| Computers & peripheral equipment |
|
85.6 |
84.8 |
79.1 |
82.7 |
79.2 |
84.9 |
| Software |
|
395.6 |
389.0 |
414.2 |
370.3 |
373.2 |
375.9 |
| Other |
|
476.9 |
459.7 |
408.6 |
439.7 |
255.5 |
242.8 |
| Industrial equipment |
|
254.5 |
250.2 |
236.6 |
243.9 |
250.6 |
246.7 |
| Transportation equipment |
|
312.6 |
302.9 |
281.3 |
300.7 |
302.4 |
292.8 |
| Other equipment |
|
283.9 |
274.1 |
257.0 |
266.1 |
254.8 |
243.8 |
| Residential |
|
793.9 |
798.3 |
613.2 |
787.2 |
766.2 |
738.9 |
| |
|
|
|
|
|
|
|
| Change
in private inventories |
|
107.5 |
92.7 |
-36.8 |
36.3 |
16.0 |
41.9 |
| Farm |
|
-4.6 |
-3.5 |
-6.4 |
-1.9 |
3.5 |
3.4 |
| Nonfarm |
|
112.1 |
96.2 |
-31.0 |
38.2 |
12.5 |
38.5 |
| |
|
|
|
|
|
|
|
| Net
exports of goods & services |
|
-658.9 |
-653.5 |
-841.0 |
-639.2 |
-602.0 |
-534.1 |
| Exports |
|
2,540.6 |
2,538.6 |
2,574.2 |
2,477.4 |
2,419.6 |
2,345.9 |
| Goods |
|
1,661.6 |
1,668.6 |
1,809.2 |
1,628.1 |
1,607.4 |
1,544.1 |
| Services |
|
879.0 |
870.0 |
769.8 |
849.3 |
812.2 |
801.8 |
| |
|
|
|
|
|
|
|
| Imports |
|
3,199.5 |
3,192.1 |
3,415.2 |
3,116.6 |
3,021.6 |
2,880.1 |
| Goods |
|
2,596.0 |
2,602.4 |
2,870.0 |
2,537.1 |
2,478.6 |
2,345.2 |
| Services |
|
603.5 |
589.7 |
546.1 |
579.4 |
543.0 |
534.8 |
| |
|
|
|
|
|
|
|
| Govt. consumption exp. & investment |
|
3,569.4 |
3,550.5 |
3,171.8 |
3,456.8 |
3,406.6 |
3,356.5 |
| Federal |
|
1,341.9 |
1,329.5 |
1,224.0 |
1,294.8 |
1,278.9 |
1,263.5 |
|
National defense |
|
799.6 |
784.3 |
733.3 |
759.0 |
759.4 |
746.7 |
|
Consumption expenditures |
|
637.6 |
628.6 |
583.7 |
606.6 |
598.5 |
590.1 |
|
Gross investment |
|
162.0 |
155.7 |
149.8 |
152.4 |
160.9 |
156.5 |
|
Nondefense |
|
542.3 |
492.0 |
540.5 |
527.8 |
519.5 |
516.9 |
|
Consumption expenditures |
|
408.5 |
412.7 |
366.4 |
406.0 |
392.9 |
391.0 |
|
Gross investment |
|
133.8 |
132.5 |
123.6 |
129.8 |
126.5 |
125.9 |
| State and local |
|
2,227.5 |
2,221.0 |
1,946.6 |
2,162.0 |
2,127.7 |
2,092.9 |
| Consumption
expenditures |
|
1,834.8 |
1,822.8 |
1,597.9 |
1,784.4 |
1,780.8 |
1,759.8 |
| Gross
investment |
|
392.8 |
398.2 |
348.7 |
377.6 |
346.9 |
333.1 |
| |
|
|
|
|
|
|
|
| Addenda: |
|
|
|
|
|
|
|
| Final sales of domestic product |
|
20,757.7 |
20,565.5 |
18,515.9 |
20,004.7 |
19,738.1 |
19,458.7 |
| Gross domestic purchases |
|
21,524.1 |
21,311.7 |
19,324.8 |
20,680.2 |
20,356.1 |
20,034.8 |
| Final sales to domestic purchasers |
|
21,416.6 |
21,219.0 |
19,330.8 |
17,187.0 |
19,738.1 |
19,458.7 |
| Gross national product |
|
21,120.0 |
20,913.3 |
18,766.4 |
20,309.8 |
19,976.4 |
19,728.9 |
| Net domestic product |
|
17,524.5 |
17,360.5 |
15,472.0 |
16,837.6 |
16,674.1 |
16,448.5 |
Annual U.S. Real Gross Domestic Product and Related Measures
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Quarters seasonally adjusted
(At annual rates Q / Q, in %) |
2018
|
2017
|
2016
|
2015
|
2014
|
2013
|
| Gross domestic product (GDP) |
|
2.9 % |
2.2 % |
1.5 % |
2.6 % |
2.4 % |
2.2 % |
|
Personal consumption expenditures |
|
2.6 % |
2.5 % |
2.7 % |
3.2 % |
2.5 % |
2.4 % |
| Goods |
|
2.8 % |
2.1 % |
2.8 % |
2.6 % |
1.8 % |
1.9 % |
| Durable goods |
|
3.7 % |
3.7 % |
3.7 % |
4 % |
6.9 % |
6.7 % |
| Nondurable goods |
|
2.1 % |
2 % |
2.3 % |
2.8 % |
2.1 % |
1.9 % |
| Services
|
|
5.9 % |
4.8 % |
-1.6 % |
5 % |
3.4 % |
3.4 % |
| |
|
|
|
|
|
|
|
Gross private domestic investment |
|
5.5 % |
6.8 % |
5.5 % |
6.9 % |
5.8 % |
4.9 % |
| Fixed investment |
|
6.9 % |
5.3 % |
-0.6 % |
2.1 % |
5.3 % |
4.7 % |
| Nonresidential |
|
5 % |
4.6 % |
-4.1 % |
-4.4 % |
6.3 % |
3 % |
| Structures |
|
7.4 % |
6.1 % |
-3.4 % |
3.5 % |
8.2 % |
-0.5 % |
| Equipment &
software |
|
7.5 % |
4.6 % |
6.3 % |
4.8 % |
6.4 % |
4.6 % |
| Residential |
|
-0.3 % |
3.3 % |
5.5 % |
11.7 % |
4.8 % |
3.4 % |
| Change in private
inventories |
|
- % |
- % |
- % |
- % |
- % |
- % |
| |
|
|
|
|
|
|
|
Net exports of goods and services |
|
|
|
|
|
|
| Exports
|
|
4 % |
3 % |
-0.3 % |
0.1 % |
3.2 % |
3 % |
| Goods |
|
4.7 % |
3.3 % |
0.3 % |
-0.6 % |
4 % |
2.8 % |
| Services |
|
2.6 % |
2.5 % |
-1.5 % |
1.6 % |
1.4 % |
3.6 % |
| Imports
|
|
4.5 % |
4.6 % |
1.3 % |
4.6 % |
4 % |
1.1 % |
| Goods |
|
4.8 % |
4.6 % |
0.9 % |
4.9 % |
4.1 % |
0.9 % |
| Services |
|
3.3 % |
4.4 % |
3.1 % |
2.9 % |
3.6 % |
2.2 % |
| |
|
|
|
|
|
|
| Govt. consumption exp.
& gross investment |
|
1.5 % |
-0.1 % |
0.8 % |
1.8 % |
-0.2 % |
-2 % |
| Federal |
|
2.6 % |
0.7 % |
- % |
- % |
-1.9 % |
-5.7 % |
| National defense |
|
3.4 % |
0.7 % |
-0.7 % |
-2.1 % |
-2.1 % |
-6.6 % |
| Nondefense |
|
1.5 % |
0.8 % |
1.2 % |
3.3 % |
-1.5 % |
-4.1 % |
| State & local |
|
0.8 % |
-0.5 % |
1.2 % |
2.9 % |
1 % |
0.5 % |
| |
|
|
|
|
|
|
| Addenda: |
|
|
|
|
|
|
| Final sales of domestic product |
|
2.7 % |
2.2 % |
1.9 % |
2.4 % |
2.3 % |
2.2 % |
| Gross domestic purchases |
|
3 % |
2.5 % |
1.7 % |
3.2 % |
2.5 % |
1.9 % |
| Final sales to domestic
purchasers |
|
2.9 % |
2.5 % |
2.1 % |
3.1 % |
2.5 % |
1.9 % |
| Gross national product
(GNP) |
|
2.9 % |
2.3 % |
1.4 % |
2.3 % |
2.3 % |
2.2 % |
| Disposable personal income |
|
2.9 % |
2.6 % |
1.4 % |
3.5 % |
2.5 % |
2.2 % |
| |
|
|
|
|
|
|
| Current-dollar measures: |
|
|
|
|
|
|
| GDP |
|
5.2 % |
4.2 % |
2.8 % |
3.7 % |
3.9 % |
- % |
| Final sales of domestic product |
|
5 % |
4.2 % |
2.1 % |
3.6 % |
3.9 % |
3.7 % |
| Gross domestic purchases |
|
5.3 % |
4.2 % |
2.5 % |
3.7 % |
3.9 % |
3.7 % |
| Final sales to domestic purchasers |
|
5.1 % |
4.8 % |
3.5 % |
3.8 % |
3.9 % |
- % |
| GNP |
|
5.2 % |
4.3 % |
2.7 % |
3.4 % |
3.7 % |
3.2 % |
| Disposable personal income |
|
5 % |
4.4 % |
2.6 % |
3.8 % |
3.8 % |
3.7 % |
| |
|
|
|
|
|
|
Annual U.S. GDP
(In Billions of Dollars) |
2018
|
2017
|
2016
|
2015
|
2014
|
2013
|
| Gross domestic product
(GDP) |
|
20,494.1 |
19,390.6 |
18,624.5 |
18,036.6 |
17,418.9 |
16,799.7 |
|
Personal consumption expenditures |
|
13,948.5 |
13,395.5 |
12,820.7 |
12,283.7 |
11,930.3 |
11,501.5 |
| Goods |
|
4,338.8 |
4,295.3 |
4,121.4 |
4,012.1 |
3,968.7 |
3,885.9 |
| Durable
goods |
|
1,459.4 |
1,473.8 |
1,411.0 |
1,355.2 |
1,302.5 |
1,263.0 |
| Motor vehicles & parts |
|
506.6 |
498.2 |
480.8 |
464.8 |
447.8 |
424.5 |
| Furniture & household equipment |
|
330.4 |
338.7 |
325.2 |
305.1 |
287.5 |
285.8 |
| Other |
|
228.1 |
405.8 |
385.5 |
376.6 |
205.5 |
205.0 |
| |
|
|
|
|
|
|
|
| Nondurable goods |
|
2,879.4 |
2,821.5 |
2,710.4 |
2,656.9 |
2,666.2 |
2,622.9 |
| Food off-premises consumption |
|
1,000.9 |
937.7 |
915.1 |
900.7 |
888.6 |
884.0 |
| Clothing
& shoes |
|
394.2 |
400.2 |
393.7 |
379.5 |
365.4 |
362.7 |
| Gasoline,
fuel, oil & other energy goods |
|
346.9 |
304.1 |
273.7 |
303.7 |
398.3 |
408.7 |
| Other |
|
1,137.3 |
1,172.8 |
1,126.1 |
1,076.9 |
1,013.9 |
967.5 |
| |
|
|
|
|
|
|
|
| Services |
|
9,609.7 |
9,100.2 |
8,699.3 |
8,271.6 |
7,961.7 |
7,615.7 |
| Housing |
|
9,166.8 |
8,723.3 |
8,340.4 |
7,943.7 |
7,633.7 |
7,326.2 |
| Food services |
|
943.1 |
878.2 |
849.2 |
808.8 |
755.5 |
736.5 |
| Electricity & gas |
|
2,559.9 |
3,197.2 |
3,022.1 |
2,963.2 |
2,166.0 |
2,082.5 |
| Financial services |
|
1,123.2 |
1,054.6 |
984.7 |
921.1 |
885.1 |
849.2 |
| Transportation |
|
454.0 |
406.6 |
392.5 |
368.4 |
344.9 |
324.3 |
| Medical
care |
|
2,371.3 |
2,259.9 |
2,163.7 |
2,069.0 |
1,997.2 |
1,918.6 |
| Recreation |
|
556.2 |
518.0 |
492.6 |
466.3 |
444.6 |
427.2 |
| Other |
|
1,158.9 |
1,172.8 |
1,126.1 |
1,076.9 |
1,040.4 |
987.9 |
| |
|
|
|
|
|
|
|
|
Gross private domestic investment |
|
3,650.1 |
3,212.8 |
3,057.2 |
3,056.6 |
2,851.6 |
2,670.0 |
| Fixed investment |
|
3,593.5 |
3,197.2 |
3,022.1 |
2,963.2 |
2,769.6 |
2,564.0 |
| Nonresidential |
|
2,799.1 |
2,449.6 |
2,316.3 |
2,311.3 |
2,210.5 |
2,047.1 |
| Structures |
|
637.1 |
560.2 |
516.2 |
507.3 |
506.9 |
456.4 |
| Equipment & software |
|
1,236.3 |
1,098.4 |
1,043.9 |
1,086.1 |
1,017.3 |
939.7 |
| Information processing equipment & software |
|
409.4 |
323.1 |
303.9 |
314.3 |
294.1 |
290.1 |
| Computers & peripheral equipment |
|
84.2 |
79.2 |
73.1 |
78.5 |
75.7 |
77.9 |
| Software |
|
384.1 |
243.9 |
230.8 |
235.8 |
304.9 |
294.4 |
| Other |
|
457.4 |
243.9 |
230.8 |
235.8 |
218.4 |
212.2 |
| Industrial equipment |
|
248.0 |
243.3 |
225.0 |
220.9 |
238.6 |
202.8 |
| Transportation equipment |
|
304.9 |
290.3 |
286.7 |
308.1 |
257.6 |
218.9 |
| Other equipment |
|
273.9 |
241.6 |
228.3 |
242.9 |
227.0 |
227.9 |
| Residential |
|
794.5 |
747.6 |
705.9 |
651.9 |
559.1 |
516.9 |
| |
|
|
|
|
|
|
|
| Change
in private inventories |
|
56.5 |
15.7 |
35.1 |
93.4 |
82.0 |
106.1 |
| Farm |
|
-2.9 |
2.4 |
-0.6 |
-2.0 |
7.9 |
40.4 |
| Nonfarm |
|
59.4 |
13.2 |
35.7 |
95.4 |
74.1 |
65.7 |
| |
|
|
|
|
|
|
|
| Net
exports of goods & services |
|
-625.4 |
-571.6 |
-521.2 |
-522.0 |
-538.2 |
-497.3 |
| Exports |
|
2,531.3 |
2,344.0 |
2,214.6 |
2,264.3 |
2,337.0 |
2,259.9 |
| Goods |
|
1,666.2 |
1,546.8 |
1,446.0 |
1,498.4 |
1,614.7 |
1,567.0 |
| Services |
|
865.2 |
797.1 |
768.5 |
765.9 |
722.2 |
692.9 |
| |
|
|
|
|
|
|
|
| Imports |
|
3,156.7 |
2,915.6 |
2,735.8 |
2,786.3 |
2,875.2 |
2,757.2 |
| Goods |
|
2,568.0 |
2,381.8 |
2,224.2 |
2,291.1 |
2,385.5 |
2,296.0 |
| Services |
|
588.7 |
533.8 |
511.6 |
495.2 |
489.7 |
461.2 |
| |
|
|
|
|
|
|
|
| Govt. consumption exp. & investment |
|
3,520.8 |
3,353.8 |
3,267.8 |
3,218.3 |
3,175.2 |
3,125.5 |
| Federal |
|
1,319.8 |
1,260.7 |
1,231.5 |
1,225.0 |
1,219.2 |
1,245.9 |
|
National defense |
|
778.9 |
744.4 |
728.9 |
732.0 |
761.5 |
770.7 |
|
Consumption expenditures |
|
622.8 |
588.7 |
585.2 |
590.6 |
618.9 |
612.0 |
|
Gross investment |
|
156.1 |
155.7 |
143.7 |
141.3 |
142.6 |
158.7 |
|
Nondefense |
|
540.9 |
516.2 |
502.6 |
493.0 |
457.6 |
475.1 |
|
Consumption expenditures |
|
409.2 |
389.1 |
379.4 |
373.1 |
346.3 |
359.0 |
|
Gross investment |
|
131.8 |
127.2 |
123.3 |
119.9 |
111.3 |
116.1 |
| State and local |
|
2,201.0 |
2,093.2 |
2,036.3 |
1,993.3 |
1,956.1 |
1,879.6 |
| Consumption
expenditures |
|
1,811.2 |
1,754.4 |
1,693.6 |
1,641.2 |
1,620.4 |
1,548.1 |
| Gross
investment |
|
389.8 |
338.8 |
342.7 |
352.2 |
335.7 |
331.5 |
| |
|
|
|
|
|
|
|
| Addenda: |
|
|
|
|
|
|
|
| Final sales of domestic product |
|
20,437.5 |
19,374.9 |
18,589.4 |
17,943.3 |
17,336.9 |
16,693.7 |
| Gross domestic purchases |
|
21,119.4 |
19,962.2 |
19,145.7 |
18,558.6 |
17,957.2 |
17,297.0 |
| Final sales to domestic purchasers |
|
21,062.9 |
19,946.5 |
19,110.6 |
18,465.2 |
17,875.1 |
17,191.0 |
| Gross national product |
|
20,755.5 |
16,592.7 |
15,842.8 |
15,246.9 |
17,630.6 |
17,057.5 |
| Net domestic product |
|
17,220.2 |
19,390.6 |
18,624.5 |
18,036.6 |
14,682.7 |
14,153.2 |
Next U.S. GDP report is expected on February 25, 2121.
|
